Cost of not acting on climate change $44 trillion: Citi
Up to $44 trillion could be going up in smoke if the world does not act on climate change, according to the latest piece of research from U.S. banking giant Citigroup.
The report – Energy Darwinism II: Why a Low Carbon Future Doesn't Have to Cost the Earth -- has forecast that spending on energy will hit around $200 trillion in the next 25 years.
The study then examines two scenarios: one that Citi describe as an "'inaction' on climate change scenario", and another that looks at what could happen if a low carbon, "different energy mix" is pursued.
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